The Government can afford the more targeted cost-of-living package announced yesterday, according to the chief economist at Davy, but supports should not become permanent and will need to be phased out.
Conall MacCoille said last year's surplus of €5 billion, as well as further expected growth this year, means the Government can afford the package of measures,"but I suppose the question is, should we be doing it?"
"If you are going to try and protect people from the cost of living pressures you should do it in a targeted way, so it was good to see a bit more of a targeted approach yesterday than in the Budget," Mr MacCoille said.In the UK, they directly regulate energy bills and people can be reasonably confident that energy bills will fall.
We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences "Of course there are firms that are struggling in these sectors that do deserve support through what's going to be a very difficult period, but at the same time, there will be firms that will be doing quite well," he said.
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